We’re doing our own testing (read packet sniffing) to see what we can find. We’ve also reached out to Instagram to see if they can confirm what these fixes, well, fix.

Update: We haven’t heard from Instagram this morning, but looking at the Get Satisfaction page this morning…I think it’s safe to say this fix pushed out last night fixes the security issues:

Hey Everyone,

We’ve been hard at work for the last couple weeks on making our product secure & safe. Security is a huge priority for this release. A fix has been submitted to Apple and should be available shortly. If you have any questions, you should feel free to email me personally kevin@instagr.am

Kevin

CEO & Cofounder

My packet sniffing experiments weren’t terribly effective at determining what my iPhone was sending out, but I think if the above refers to last night’s update.